Wednesday, February 1, 2017

India Union Budget 2017-18 ::

MSMEs more viable

01.02.2017 12:25:21 - ArunFM : Ganga River cleaning with snail pace bring half population of India in tizzy and water Lobby to cheer as bottled water to grow

(live-PR.com) - ArunFM on political funding only cash 2000 permissible.Henceforth political funding to be by cheque and digital form. Bond to float for political parties.Naresh Kumar Sagar ‏@NksagarArunFM:: MSME levelling tax to 25% is bold step for MSME momentum.Arun FM such popular budget may appeal to most of educated class thus an instant momentum to his political dynamics

but an historical budget

February 1, 2017All taxpayers above 5 lakh rupees to get benefit of 12,500 rupees across the board: FM 2. 10% Surcharge on individuals with income between 50 lakh to 1 Crore: FM 3. Surcharge of 10% for individuals earning between Rs 50 lakh- 1 crore; Surcharge for incomes > Rs 1 crore at 15% to continue: FM 4. A single one-page form for filing IT returns for taxable income up to 5 lakh rupees: FM 5. Tax on income from 2.5 lakh to 5 lakh reduced from 10 per cent to 5 per cent: FM 6. Time period of revising tax return to be reduced to 12 months: FM 7. Amendment to RBI Act proposed to enable electoral bonds: FM 8. Political parties will be entitled to receive donations in cheque or digital payment, every political party to file IT returns: FM 9. Long-term capital gains tax on immovable property to apply after 2 years, instead of 3 years now: FM10. Maximum amount of cash donation a political party can receive to be 2000 rupees from any one source: FM 11. Computer emergency response team to be established Cyber security: FM 12. Rate of growth in advance tax in personal income tax in last 3 quarters of this financial year is as high as 34.8%: FM 13. Basic customs duty on LNG to be reduced from 5% to 2.5%: FM 14. Tax rate for companies with an annual turnover up to 50 crores to be reduced to 25%, to strengthen MSME sector: FM 15. To make MSMEs more viable, income tax for smaller companies to be reduced: FM 16. Profit linked deduction available to Startups for 3 years out of 5 years will be available for 3 years out of 7 years 17. Capital gains tax to be exempted,for persons holding land from which land was pooled for creation of state capital of Telangana: FM 18. Thrust in budget are affordable housing, promote digital economy, bringing transparency in political funding: FM 19. We are committed to make our taxation rate reasonable,our tax admin more fair & expand the tax base of the country: FM 20. Only 1.72 lakh people show income above Rs 50 lakh: FM 21. 1.5 crore people show income between Rs 2.5-5 lakh; 52 lakh people between between Rs 5-10 lakh; 24 lakh above Rs 10 lakh: FM 22. 5 special tourism zones,anchored on SPV, to be set up; Incredible India II campaign to be launched across the world: FM 23. Revenue Deficit target at 1.9% of GDP: FM 24. Govt to commemorate Champaran Satyagraha centenary: FM 25. Fiscal deficit pegged at 3.2 percent of GDP: FM 26. Aadhar-enabled payment system AadharPay to be launched: FM 27. Defence allocation of Rs 2.74 lakh crore: FM 28. Pradhan Mantri Kaushal Kendras to be extended to more than 600 districts across the country: FM 29. Total allocation for infrastructure in Budget for Better India stands at a record level Rs 3,96,135 crore in 2017-18: FM 30. State run companies like IRCON and IRCTC to be listed in markets: FM

1. Total resource transfer to States and UTs with legislature at Rs 4.11 lakh crore up from Rs 3.6 lakh crore in BE 16-17: FM 2. Total allocation for rural, agricultural & allied sectors for 2017-18 a record 1,87,223 cr, up by 24%: FM 3. Total expenditure of this year’s budget is 21 lakh 47 thousand crore rupees: FM 4. Innovation Fund for secondary education to be created: FM 5. Introduction of a new law for Economic offenders fleeing the country by confiscating their properties: FM 6. Web based pension distribution system for defense pensioners: FM 7. Road sector budget increased from 57,676 cr rupees in 2016-17 to 64,900 crore rupees in 2017-18: FM 8. Centralised Defense Travel System has been designed to allow defense personnel to book tickets online: FM 9. Sanitation coverage in rural areas has gone up to 60% now: FM 10. 3,500 km Railway lines to be commissioned in 2017-18: FM 11. Aadhar based smart cards for senior citizens: FM 12. Proposal to step up allocation for PMAY Gramin from 15,000 crore to 23,000 crore in next year: FM 13. Rs 2000 Cr announced for coastal road connectivity; essentially to enhance connectivity to ports & coastal villages: FM 14. By 2019, All Railway Coaches to be fitted with Bio toilets: FM 15. 19,000 crore in 2017-18 for PMGSY; together with contribution from states, 27,000 crore to be spent: FM 16. 20,000 MW solar power plants to be set up: FM 17. Improvement in working of CPSEs through consolidation, merger and acquisition: FM 18. 2.44 lakh crore rupees for Pradhan Mantri Mudra Yojan: FM 19. A revised mechanism of listing of Public Sector Enterprises: FM 20. During 2017-18, another 5 lakh ponds to be constructed, for drought-proofing: FM 21. Rs 10,000 crore for recapitalisation of banks: FM 22. 3.5 Crore youth will be trained under Sankalp program launched by the government: FM 23. A new metro rail policy will be announced with focus on innovative models of implementation and finance: FM 24. FM proposes further liberalisation of FDI policy 25. Mission Antyodaya to bring 1 crore households out of poverty, & to make 50,000 Gram Panchayats poverty-free: FM 26. 2 new Strategic Oil Reserves to be set up in Odisha and Rajasthan: FM 27. Expert committee will be formed to study Commodity Market: FM 28. DigiGaon initiative will be launched to provide tele-medicine, education & skills through digital technology: FM 29. Foreign Investment Promotion Board to be abolished: FM 30. By end of FY 2017-18 high speed broadband connectivity on optic fibres will be available in more than 1,50,000 gram panchayats: FM1. Total allocation for infrastructure 3 lakh 96 thousand 135 crore rupees for 17-18: FM 2. Coverage of eNAM to be expanded from 250 to 585 APMCs: FM 3. Railways will offer competitive ticket booking facility to public at large: FM 4. 2,41,387 crore rupees allotted for the transportation sector in 2017-18: FM 5. Dedicated Micro-irrigation fund to be set up by NABARD to achieve mission of Per Drop More Crop: FM6. Service Tax on E-tickets through IRCTC withdrawn: FM 7. 500 railway stations to be differently abled friendly, selected airport in tier two cities will be in PPP mode: FM 8. Mini Soil Testing Lab in Krishi Vigyan Kendras to ensure 100% coverage: FM 9. Railways will integrate end to end transport solutions for selected commodities through partnership: FM 10. Coverage of Fasal Bima Yojana to go up from 30% of cropped area, to 40% in 2017-18 & 50% in 2018-19: FM 11. Target for agricultural credit in 2017-18 has been fixed at a record level of 10 lakh crore rupees: FM 12. Rail Sanraksha Kosh to be set up with corpus of one lakh crore rupees: FM 13. Women, child, welfare allocation upped to Rs 1,84,362 crore: FM 14. Total capital for Railways is pegged at 1 lakh 31 thousand crores Rs: FM 15. Two new AIIMS to be set up in Jharkhand and Gujarat: FM 16. Speed of construction of roads has increased to 133 km per day: FM 17. PM Awas Yojna – Gramin allocation raised to 23000 crore: FM 18. Speed of construction of roads per day has increased to 133 km per day: FM 19. Incredible India second campaign to be launched world over: FM 20. Good institutions to have greater administration & academic autonomy: FM 21. Safe drinking water to cover 28,000 arsenic & Fluoride effected habitations in the next four years: FM 22. Special scheme for leather and footwear sector: FM 23. Pradhan Mantri Kaushal Kendra to be extended to 600 districts: FM 24. Open defecation free villages are now being given priority for Pipe to water supply: FM 25. National testing agency to conduct all entrance examinations across the country: FM 26. Merger of Railway Budget with Budget 2017 a historic step: FM 27. Advancement of Budget2017 will enable all Ministries,Departments to operationalize all schemes right from beginning of next FY: FM 28. Total allocation for rural & agriculture sectors – 1lakh 87 thousand 223 crore rupees: FM 29. 100% village electrification will be achieved by May 1,2018 : FM 30. Sanitation coverage in rural areas have gone up from 42% in Oct 2014 to about 60% now: FM1. To complete 1,00,00,000 houses by 2019 for houseless and those living in kaccha houses: FM 2. Highest allocation in MGNREGA, up from 38,500 crore rupees to 48,000 crore rupees for 2017-18: FM 3. Participation of women in MNREGA has increased to 55%: FM 4. Effects of demonetisation not expected to spill over to next year: FM 5. Overall approach behind budget 2017 is to spend more in rural areas: FM 6. Firmly believe that GST, Demonetisation, built on JAM, will have an epoch-making impact on the lives of our people: FM 7. 3 challenges in current global scenario: Monetary stance of US FED Reserve, Commodity prices specially crude oil & retreat from globalisation: FM 8. Committed to increase the income of farmers in 5 years: FM 9. Demonetisation aims to create a new normal, where the GDP would be bigger, cleaner and real: FM 10. Target of Rs 10 lakh crore credit to farmers: FM 11. GST and Demonetisation two tectonic policy initiatives: FM 12. Dedicated micro irrigation fund will be set up by NABARD with initial 5000 crore rupees: FM 13. We will take special efforts to ensure adequate flow of credit to under served areas, Eastern states and J&K: FM 14. Government has continued with a steady path of fiscal consolidation: FM 15. Transform, energise & clean India are Govt’s agenda: FM 16. Favourable price developments reflect prudent macroeconomic management: FM 17. Agriculture expected to grow 4.1% this year: FM 18. India continues to stand as a bright spot in the world economic landscape: FM 19. Uncertainty around commodity prices, esp. around crude oil, second major challenge: FM 20. Current monetary plans of the US Federal reserve one of 3 challenges: FM 21. FDI rises to 1,45,000 crore rupees in first half of 2016-17: FM 22. Surplus liquidity in the banking system due to demonetisation will boost economic activity: FM 23. There are positive signs, that point to a positive outlook for the next year: FM 24. India’s Current Account Deficit decreased frm about 1% of GDP last yr to 0.3% of GDP in 1st half of 216-17:FM 25. Country’s Current Account Deficit declined to 0.3% from 1% of GDP: FM 26. IMF estimates world GDP to grow at 3.1% in 2016 and 3.4% in 2017: FM 27. India’s macro economic stabiliity continue to be foundation of economic success: FM 28. Government is now seen as a trusted custodian of public money: FM 29. Finance Minister Arun Jaitley thanks the people for support to the Government, assures of more measures for people’s welfare. 30. Union Finance Minister Sh. Arun Jaitley presents Union Budget 2017-18 in Parliament on 1st Feb 2017.1. To complete 1,00,00,000 houses by 2019 for houseless and those living in kaccha houses: FM 2. Highest allocation in MGNREGA, up from 38,500 crore rupees to 48,000 crore rupees for 2017-18: FM 3. Participation of women in MNREGA has increased to 55%: FM 4. Effects of demonetisation not expected to spill over to next year: FM 5. Overall approach behind budget 2017 is to spend more in rural areas: FM 6. Firmly believe that GST, Demonetisation, built on JAM, will have an epoch-making impact on the lives of our people: FM 7. 3 challenges in current global scenario: Monetary stance of US FED Reserve, Commodity prices specially crude oil & retreat from globalisation: FM 8. Committed to increase the income of farmers in 5 years: FM 9. Demonetisation aims to create a new normal, where the GDP would be bigger, cleaner and real: FM 10. Target of Rs 10 lakh crore credit to farmers: FM 11. GST and Demonetisation two tectonic policy initiatives: FM 12. Dedicated micro irrigation fund will be set up by NABARD with initial 5000 crore rupees: FM 13. We will take special efforts to ensure adequate flow of credit to under served areas, Eastern states and J&K: FM 14. Government has continued with a steady path of fiscal consolidation: FM 15. Transform, energise & clean India are Govt’s agenda: FM 16. Favourable price developments reflect prudent macroeconomic management: FM 17. Agriculture expected to grow 4.1% this year: FM 18. India continues to stand as a bright spot in the world economic landscape: FM 19. Uncertainty around commodity prices, esp. around crude oil, second major challenge: FM 20. Current monetary plans of the US Federal reserve one of 3 challenges: FM 21. FDI rises to 1,45,000 crore rupees in first half of 2016-17: FM 22. Surplus liquidity in the banking system due to demonetisation will boost economic activity: FM 23. There are positive signs, that point to a positive outlook for the next year: FM 24. India’s Current Account Deficit decreased frm about 1% of GDP last yr to 0.3% of GDP in 1st half of 216-17:FM 25. Country’s Current Account Deficit declined to 0.3% from 1% of GDP: FM 26. IMF estimates world GDP to grow at 3.1% in 2016 and 3.4% in 2017: FM 27. India’s macro economic stabiliity continue to be foundation of economic success: FM